Retirees lean on children for financial support on top of superannuation
The Bank of Mum and Dad has for years been a lifeline for young Kiwis trying to get ahead.
Parents used their equity from decades of rising property values to help their children afford home deposits, bridging loans, or clear debt owed to the banks.
But a new financial institution
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Scoop
an hour ago
- Scoop
Unleashing Growth On Conservation Land
Rt Hon Christopher Luxon Prime Minister Minister of Conservation Unleashing economic growth on one third of New Zealand's land will create jobs and increase wages across the country, Prime Minister Christopher Luxon and Conservation Minister Tama Potaka announced at the National Party Conference in Christchurch today. 'The Department of Conservation manages huge tracts of New Zealand, from the most pristine parts of our National Parks and the Great Walks to areas of grassland used for grazing,' Mr Luxon says. 'Many New Zealanders already run outstanding businesses on the conservation estate – from guided walks and ski fields, to filming documentaries, grazing sheep and cattle, or hosting concerts and building cell phone towers. 'But to do any of that, you need a concession – and the concessions regime is totally broken, often taking years to obtain or renew and leaving businesses in a cycle of bureaucratic limbo. 'Outdated rules mean we've got examples of modern E-bike users being turned away from potential touring opportunities because they have to be considered as proper vehicles. And tourism on the Routeburn is being held up because the trail crosses artificial boundaries, with different rules and different limits. 'So, in the spirit of saying yes to more jobs, more growth, and higher wages, today I can make two announcements. 'First, we're going to fix the Conservation Act to unleash a fresh wave of concessions – like tourism, agriculture, and infrastructure, in locations where that makes sense. 'At the same time, sites that are truly special to New Zealanders should be protected so we are giving DOC more support by introducing a charge for foreign visitors to access high volume sites,' Mr Luxon says. Tama Potaka says this will initially involve looking at four locations – Cathedral Cove / Te Whanganui-a-Hei, Tongariro Crossing, Milford Track, and Aoraki Mount Cook – where foreigners often make up 80 per cent of all visitors. 'Tourists make a massive contribution to our economy, and no one wants that to change. But I have heard many times from friends visiting from overseas their shock that they can visit some of the most beautiful places in the world for free. 'It's only fair that at these special locations, foreign visitors make an additional contribution of between $20 and $40 per person. 'For the conservation estate that will mean up to $62 million per year in revenue, which will be directly re-invested into those same areas, so we can keep investing in the sites that underpin so much of our tourism sector,' Mr Potaka says. Mr Luxon says, at the same time, there will be no charge for New Zealanders to access the conservation estate. 'It's our collective inheritance and Kiwis shouldn't have to pay to see it. 'If we're serious about keeping Kiwis at home, creating jobs, and increasing wages for all New Zealanders, we can't afford to keep saying no to every opportunity that comes our way,' Mr Luxon says.
Scoop
17 hours ago
- Scoop
Taxpayers' Union Launches Campaign Against Dirty Deal Between Big Banks, ANZ, ASB, And The National Party
The New Zealand Taxpayers' Union has today launched a major campaign targeting Scott Simpson's Credit Contracts and Consumer Finance Amendment Bill, which includes retrospective provisions that would extinguish a live class action brought by tens of thousands of bank customers against ANZ and ASB banks. The campaign has been launched with National Party's annual conference attendees being delivered love letters from the Big Banks to recognise their special relationship and bank bailout. In the coming days, a digital advertising, billboard, and grassroots mobilisation campaign demanding that Finance Minister Nicola Willis and Minister of Consumer Affairs Scott Simpson drop the retrospective clauses from the Bill will be launched. Taxpayers' Union Executive Director Jordan Williams said: 'This is a disgraceful case of retrospective lawmaking that undermines the rule of law and destroys trust in New Zealand as a stable place to do business." "Last month the NZ Herald reported that the Bill is a result of backroom discussions between the Government and the Aussie-owned big banks which excluded the consumer-side parties of the very class action litigation the Bill is intended to extinguish." "Across the Tasman, the Aussie banks were hauled over the coals for misconduct and dishonest practises. But in Wellington, they are doing deals with the Beehive to be bailed out and 'protected' from consumer class actions. It's perverting the course of justice for tens of thousands." "Not only does the Credit Contracts and Consumer Finance Amendment Bill run roughshod over the rule of law, it is specifically designed to bail out the powerful at the expense of ordinary Kiwis.' 'Tens of thousands of Kiwis are part of a live class action over alleged unfair fees. Instead of letting the courts do their job, Nicola Willis and Scott Simpson are stepping in to shut it down with the stroke of a pen. That's not justice — that's Parliament playing defence for its mates.' The Union says the Bill makes a mockery of the Government's own rhetoric about restoring New Zealand's reputation as a safe, rules-based place to invest and do business. 'The same Ministers pushing the so-called Regulatory Standards Bill – which rightly warns against retrospective legislation – are now ramming through a bill that does exactly that. That's usually called hypocrisy.' 'When governments change the rules mid-litigation to protect the well connected, it sends a chilling message to investors, consumers, and taxpayers alike: the law in New Zealand is only as stable as the political connections of the people you're up against.' Williams concluded: 'This campaign isn't just focused at the Government. It's to hold to account and expose the disgraceful behaviour of ANZ and ASB banks to undermine their own customers' rights. This is about not just honesty and integrity and customer disclosures, but New Zealanders having the ability to enforce consumer protection law against the big end of town.' 'Either the Government walks the talk on stable, principled lawmaking, or they admit they're no better than the last lot. Kiwis deserve better than this grubby stitch-up.' The social media, digital and advertising campaign launches next week along with some more creative plans to ensure this bill gets the public scrutiny it deserves. 'Watch this space.'
Otago Daily Times
a day ago
- Otago Daily Times
PM wants NZ to get behind development, progress
By Giles Dexter of RNZ National leader Christopher Luxon has told the party's annual conference that the country needs to "say yes" more. Addressing about 550 delegates, MPs and supporters at the Air Force Museum of New Zealand in Christchurch, Luxon bemoaned "activists" who opposed housing developments, agriculture, cruise ships and mines. "If we're serious about keeping Kiwis at home, creating jobs and increasing wages for all New Zealanders, we can't afford to keep saying no to every opportunity that comes our way." Opposition parties have heavily criticised the government for its economic policies and laid the blame at its feet for the 30,000 New Zealanders who moved to Australia last year, but Luxon said the opposition would make it worse. "Take a look at Australia," he said. "If they shut down their mining industry or their energy industry tomorrow, as Labour and the Greens want to do here, I guarantee you would see fewer Kiwis moving across the ditch." Luxon's speech came hot on the heels of an announcement from the United States that it would increase tariffs to 15 percent. Still digesting the announcement and what it would mean for New Zealand exporters, Luxon acknowledged "challenging" global conditions. "We can't just batten down the hatches and hope for the best," he said. Luxon's speech made no mention of National's coalition partners, New Zealand First or ACT, or even the word 'coalition' itself, although deputy Nicola Willis acknowledged the "energy" it took to keep Winston Peters and David Seymour under control. Instead, Luxon's speech was heavy on shoutouts to his National ministers and their policies, and also on blaming the previous government for the cost-of-living struggles New Zealanders currently faced. "In the years to come, immediate action on the cost of living isn't enough," he said. "The last government spent billions of dollars in failed handouts, only to watch inflation roar and the economy falter. "We have to keep our eyes on the prize." Echoing his speech at Monday's post-cabinet press conference, Luxon leaned on the economic policies the government had introduced, such as tax changes, FamilyBoost and the removal of the Auckland Fuel Tax. "We're doing what we can," he said. The speech contained an announcement the government would make it easier to get a concession on Department of Conservation land. "That means more certainty for businesses, less bureaucracy and much faster decisions, so the businesses that should be operating can get up and running." There would still be restrictions on some parts of the DOC estate. "Where it does make sense, we need to get to the 'yes' much faster - instead of being bogged down in process and uncertainty," Luxon said. Charges of $20-40 for foreign visitors to high-volume sites like Cathedral Cove, Tongariro Crossing, Milford Sound, and Aoraki Mount Cook were being introduced, but New Zealanders would be exempt from the fees. Party president Sylvia Wood, who was re-elected at the conference, said the party would select candidates for the 2026 election shortly.
